KVUE · 8-K · 20260806PR000141

Operating Margin Drivers

Kenvue Inc. · 2026-08-06 · Importance 18 · Surprise 14

Second-quarter operating income margin decreased to 17.7% from 18.0% year over year, and adjusted operating margin decreased to 22.1% from 22.7%. The decline reflected lower gross and adjusted gross margins and a year-over-year increase in brand support spending. Cost-optimization actions, including the 2026 Restructuring Initiative and Our Vue Forward, partially offset the margin decline.

Key facts

• Skin Health and Beauty Adjusted operating income for the three months ended June 28, 2026 was $186 million vs $149 million prior year. source
• Essential Health Adjusted operating income for the three months ended June 28, 2026 was $315 million vs $351 million prior year. source
• Second quarter 2026 Operating income margin was 17.7% vs 18.0% in the prior year period. source
• Second quarter 2026 Adjusted operating income margin was 22.1% vs 22.7% in the prior year period. source
• Self Care Adjusted operating income for the three months ended June 28, 2026 was $512 million vs $527 million prior year. source
• Year-over-year change in operating margins reflects the change in gross profit margins and a year-over-year increase in brand support, partially offset by savings from cost optimization actions including the 2026 Restructuring Initiative and Our Vue Forward. source
• Second quarter 2026 Interest expense, net was $90 million vs $94 million in the prior year period. source
• Kenvue reported Research & Development expense of $94 million for the three months ended June 28, 2026 and $178 million for the six months ended June 28, 2026. source